Wealth Enhancement Advisory Services LLC Purchases 142,156 Shares of Coupang, Inc. $CPNG

Wealth Enhancement Advisory Services LLC increased its position in Coupang, Inc. (NYSE:CPNG) by 421.8% in the third quarter, Holdings Channel.com reports. The firm owned 175,861 shares of the company’s stock after acquiring an additional 142,156 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Coupang were worth $5,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new stake in shares of Coupang during the 2nd quarter worth approximately $30,000. Hilltop National Bank acquired a new position in Coupang in the third quarter valued at approximately $34,000. Loomis Sayles & Co. L P bought a new position in Coupang in the second quarter valued at approximately $45,000. Hollencrest Capital Management grew its holdings in Coupang by 3,246.0% during the 2nd quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock worth $50,000 after acquiring an additional 1,623 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in Coupang during the 2nd quarter worth $58,000. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Wednesday. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Bank of America raised their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Mizuho upped their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Barclays increased their price target on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.57.

Insiders Place Their Bets

In other news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares in the company, valued at $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Pranam Kolari sold 11,653 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the transaction, the vice president owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. The trade was a 7.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.78% of the stock is currently owned by corporate insiders.

Coupang Trading Up 0.1%

NYSE:CPNG opened at $19.98 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82. The business’s 50-day simple moving average is $24.31 and its 200-day simple moving average is $28.35. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The stock has a market capitalization of $36.49 billion, a PE ratio of 95.12 and a beta of 1.20.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. Coupang had a return on equity of 6.95% and a net margin of 1.16%.Coupang’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.